Pell Grant Qualifications
When it comes to getting financial aid for tuition, women in the US have a wide array of options to choose from. The US Department of Education offers loans that help students raise the money needed for tuition. Unfortunately, most of these options require repayment, such an example being the Stafford, Perkins and PLUS loans.
This kind of financial aid constrains students to repay a certain amount of dollars or face the legal consequences. On the other hand, student grants given based on merit, financial need or other criteria offer free money for tuition. This is where the Pell Grants separate themselves from the aforementioned methods of monetary aid for education.
History of the Pell Grants
Today, the Pell Grant program provides financial help to undergraduates who come from a poor background and are attending college and other institutions. But for the Pell Grant to become what it is today, it had to undergo several changes.
In 1965 several efforts were made to develop a better higher education system in the US and make academic tuition affordable to a larger segment of the population. The first step in this direction was the passing of the Higher Education Act of 1965 (HEA). This program was designed to help students with low and middle income through grants and loans with a low rate of interest.
In 1972 senator Claiborne Pell improved the HEA. The Opportunity Grant Program was developed to represent the basic financial help package of an undergraduate student. Furthermore, other monetary aids were added to the Basic Grant to help students but only up to a certain limit of financial need.
In 1978, president Jimmy Carter signed the Middle Income Student Assistance Act (MISAA) which would provide the means necessary for higher education to additional 1.5 million students who came from families with better than low income.
Eligibility
Pell Grants are offered to applicants who prove they are most in need for tuition money. To receive the grant each applicant must be an undergraduate student who has not yet earned a bachelor’s degree but also have United States citizenship. Women coming from minorities are also eligible to receive the Pell Grant, even if they don’t have US citizenship.
The United States Department of Education uses the FASFA ( Free Application for Federal Student Aid ) form to translate the information given by each applicant. The formula used in this form evaluates the information which results in a number (the EFC – Estimated Family Contribution ) that determines the eligibility of everyone.
If the applicant is found eligible to receive the Pell Grant, the calculation of the exact amount awarded is based on several factors: the duration of the college program, be it full time or half time, how much time the student will invest in scholastic programs during the academic year and the Estimated Family Contribution number.
Students who have a drug conviction which occurred while they were receiving federal financial aid will no longer be eligible for funding. However, this is not always the case, and the decision can be reversed if the individual takes steps to remediate his situation but this will be closely linked personal circumstances. In addition, a statement must be signed that certifies the usage of the financial aid only for educational related goals and that the applicant is not currently involved with any other student loans or refunds for other educational grants.
Millions of women benefit from the Pell Grant annually most of which come from households where the incomes are below $ 20,000 per annum. Now, given the fact that private college education is as much as $ 20,000 for each year and public tuition is about half of that, one cannot deny the difficulties faced by students who come from a poor background.
Amounts Awarded
As is the case with all grants, each applicant who is found eligible can benefit from an amount of money that cannot exceed a certain number. As an example, during the 2010 – 2011 award year, this number is $ 5,550. The maximum amount of money granted depends, for the most part, on the Expected Family Contribution ( EFC ) number but there are also several other factors taken into consideration.
One of these factors is the expenses of attendance, these including educational and several other fees like room and board, food and books. The last factor taken into consideration when deciding the amount of money awarded is the plan of attendance for each student, be it part time or full time. The exact figure of money awarded is calculated after filling out the Free Application for Federal Student Aid ( FAFSA ).
It is important to note that no student can receive Pell Grant funds for more than one educational institution at a time. If the eligibility has been proven, the student can receive the funds in several different ways. The institution that the student is attending can apply Pell Grant funds to school costs or transfer the funds to the student directly, usually by check or just combine these two methods. The school must inform the student on the exact value of money awarded and on the time and way it will be paid. It is mandatory for schools to transfer Pell Grant funds to students once every semester or term or twice during the academic school year.
Other Means of Financial Aid
Any applicant who has been found eligible and received the Pell Grant can still take advantage of other means of financial aid like federal or private loans. Unfortunately, it’s common knowledge that many of the federal loans awards only a small financial aid to college bound students. Most students are involved in several financial aid programs, federal or private, to best cover college expenses.
Some examples of loan programs available to students include the Stafford, Perkins and PLUS loans. However, the first and most important thing every student must do in order to take advantage of this kind of programs is to fill out the FAFSA form. Any student who doesn’t do this is basically cutting himself out of any form of financial aid.
